Processa Pharmaceuticals (PCSA) 10-Q 11 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 04, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	001-39531
Entity Registrant Name	Processa Pharmaceuticals, Inc.
Entity Central Index Key	0001533743
Entity Tax Identification Number	45-1539785
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	7380 Coca Cola Drive
Entity Address, Address Line Two	Suite 106
Entity Address, City or Town	Hanover
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21076
City Area Code	443
Local Phone Number	776-3133
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	PCSA
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		15,856,205

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 12,064,142	$ 16,497,581
Due from tax agencies		70,274
Prepaid expenses and other	1,896,633	1,759,296
Total Current Assets	13,960,775	18,327,151
Property and Equipment, net
Other Assets
Operating lease right-of-use assets, net of accumulated amortization	28,890	74,181
Intangible assets, net of accumulated amortization	7,662,390	8,056,638
Security deposit	5,535	5,535
Total Other Assets	7,696,815	8,136,354
Total Assets	21,657,590	26,463,505
Current Liabilities
Current maturities of operating lease liability	26,552	71,078
Accounts payable	648,104	218,905
Due to licensor	589,000	400,000
Due to related parties		1,772
Accrued expenses	307,412	279,265
Total Current Liabilities	1,571,068	971,020
Non-current Liabilities
Non-current operating lease liability	4,655	7,385
Total Liabilities	1,575,723	978,405
Commitments and Contingencies
Stockholders’ Equity
Common stock, par value $0.0001, 50,000,000 shares authorized: 15,919,317 issued and 15,819,317 outstanding at June 30, 2022, and 15,710,246 issued and outstanding at December 31, 2021	1,592	1,571
Additional paid-in capital	65,595,106	62,306,861
Treasury stock at cost — 100,000 shares at June 30, 2022	(300,000)
Accumulated deficit	(45,214,831)	(36,823,332)
Total Stockholders’ Equity	20,081,867	25,485,100
Total Liabilities and Stockholders’ Equity	$ 21,657,590	$ 26,463,505

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	50,000,000	30,000,000
Common stock, shares issued	15,919,317	15,710,246
Common stock, shares outstanding	15,819,317	15,710,246
Treasury stock shares	100,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating Expenses
Research and development expenses	$ 3,137,292	$ 1,614,954	$ 5,181,912	$ 3,086,401
Acquisition of in-process research and development		515,630		515,630
General and administrative expenses	2,034,456	1,329,213	3,218,550	2,051,073
Operating Loss	(5,171,748)	(3,459,797)	(8,400,462)	(5,653,104)
Other Income (Expense)
Forgiveness of PPP loan and related accrued interest		163,771		163,771
Interest expense				(362)
Interest income	7,380	1,814	8,963	6,755
Net Operating Loss Before Income Tax Benefit	(5,164,368)	(3,294,212)	(8,391,499)	(5,482,940)
Income Tax Benefit		137,169		226,417
Net Loss	$ (5,164,368)	$ (3,157,043)	$ (8,391,499)	$ (5,256,523)
Net Loss per Common Share - Basic and Diluted	$ (0.32)	$ (0.20)	$ (0.53)	$ (0.35)
Weighted Average Common Shares Used to Compute Net Loss Applicable to Common Shares - Basic and Diluted	15,940,510	15,406,363	15,886,116	14,997,303

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2020	$ 1,419	$ 48,333,857		$ (25,395,798)	$ 22,939,478
Beginning balance, shares at Dec. 31, 2020	14,187,984
Stock-based compensation	$ 1	620,590			620,591
Stock-based compensation, shares	12,500
Shares issued in private placement, net of transaction costs	$ 132	9,875,418			9,875,550
Shares issued in private placement, net of transaction costs, shares	1,321,132
Net loss				(2,099,480)	(2,099,480)
Ending balance, value at Mar. 31, 2021	$ 1,552	58,829,865		(27,495,278)	31,336,139
Ending balance, shares at Mar. 31, 2021	15,521,616
Beginning balance, value at Dec. 31, 2020	$ 1,419	48,333,857		(25,395,798)	22,939,478
Beginning balance, shares at Dec. 31, 2020	14,187,984
Net loss					(5,256,523)
Ending balance, value at Jun. 30, 2021	$ 1,560	59,892,453		(30,652,321)	29,241,692
Ending balance, shares at Jun. 30, 2021	15,604,605
Beginning balance, value at Mar. 31, 2021	$ 1,552	58,829,865		(27,495,278)	31,336,139
Beginning balance, shares at Mar. 31, 2021	15,521,616
Stock-based compensation	$ 4	762,592			762,596
Stock-based compensation, shares	38,300
Net loss				(3,157,043)	(3,157,043)
Shares issued in connection with license agreement	$ 4	299,996			300,000
Shares issued in connection with license agreement, shares	44,689
Ending balance, value at Jun. 30, 2021	$ 1,560	59,892,453		(30,652,321)	29,241,692
Ending balance, shares at Jun. 30, 2021	15,604,605
Beginning balance, value at Dec. 31, 2021	$ 1,571	62,306,861		(36,823,332)	25,485,100
Beginning balance, shares at Dec. 31, 2021	15,710,246
Stock-based compensation	$ 10	828,887			828,897
Stock-based compensation, shares	103,670
Net loss				(3,227,131)	(3,227,131)
Acquisition of treasury stock			$ (300,000)		(300,000)
Acquisition of treasury stock, shares			(100,000)
Shares issued in connection with the Purchase Agreement with Lincoln Park	$ 12	449,988			450,000
Shares issued in connection with the Purchase Agreement with Lincoln Park, shares	123,609
Ending balance, value at Mar. 31, 2022	$ 1,593	63,585,736	$ (300,000)	(40,050,463)	23,236,866
Ending balance, shares at Mar. 31, 2022	15,937,525		(100,000)
Beginning balance, value at Dec. 31, 2021	$ 1,571	62,306,861		(36,823,332)	25,485,100
Beginning balance, shares at Dec. 31, 2021	15,710,246
Net loss					(8,391,499)
Ending balance, value at Jun. 30, 2022	$ 1,592	65,595,106	$ (300,000)	(45,214,831)	20,081,867
Ending balance, shares at Jun. 30, 2022	15,919,317		(100,000)
Beginning balance, value at Mar. 31, 2022	$ 1,593	63,585,736	$ (300,000)	(40,050,463)	23,236,866
Beginning balance, shares at Mar. 31, 2022	15,937,525		(100,000)
Stock-based compensation	$ (1)	2,009,370			2,009,369
Stock-based compensation, shares	(18,208)
Net loss				(5,164,368)	(5,164,368)
Ending balance, value at Jun. 30, 2022	$ 1,592	$ 65,595,106	$ (300,000)	$ (45,214,831)	$ 20,081,867
Ending balance, shares at Jun. 30, 2022	15,919,317		(100,000)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash Flows From Operating Activities
Net loss	$ (8,391,499)	$ (5,256,523)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		484
Non-cash lease expense for right-of-use assets	45,291	41,322
Non-cash milestone expense in connection with license agreement	189,000
Non-cash acquisition of in-process research and development		300,000
Amortization of issuance costs	40,613
Amortization of intangible asset	394,248	397,664
Deferred income tax benefit		(226,417)
Stock-based compensation	2,838,266	1,173,622
Forgiveness of PPP loan and related accrued interest		(163,771)
Net changes in operating assets and liabilities:
Prepaid expenses and other	272,050	(876,899)
Operating lease liability	(47,256)	(42,320)
Accrued interest		362
Accounts payable	429,199	(32,816)
Due (from) to related parties	(1,772)	96,614
Other receivables	70,274	6,750
Accrued expenses	28,147	144,434
Net cash used in operating activities	(4,133,439)	(4,437,494)
Cash Flows From Financing Activities
Net proceeds from private placement		9,875,550
Acquisition of treasury stock	(300,000)
Other		(23,085)
Net cash (used in) provided by financing activities	(300,000)	9,852,465
Net Increase (Decrease) in Cash	(4,433,439)	5,414,971
Cash and Cash Equivalents – Beginning of Period	16,497,581	15,416,224
Cash and Cash Equivalents – End of Period	12,064,142	20,831,195
Non-Cash Financing Activities
Issuance of 123,609 shares of common stock in connection with the Purchase Agreement with Lincoln Park	$ 450,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical)	6 Months Ended
	Jun. 30, 2022 shares
Purchase Agreement [Member] | Lincoln Park Capital Fund LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Issuance of common stock shares	123,609

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Organization and Summary of Significant Accounting Policies	Note 1 – Organization and Summary of Significant Accounting Policies Business Activities and Organization We are a clinical-stage biopharmaceutical company focused on the development of drug products that are intended to provide treatment for patients who have a high unmet medical need condition that affects survival or the patient’s quality of life and for which few or no treatment options currently exist. We currently have five drugs: four in various stages of clinical development (PCS499, PCS12852, PCS6422 and PCS3117) and one in nonclinical development (PCS11T). We group our drugs into non-oncology (PCS499 and PCS12852) and oncology (PCS3117, PCS6422 and PCS11T). A summary of each drug is provided below: ● Our most advanced product candidate, PCS499, is an oral tablet that is a deuterated analog of one of the major metabolites of pentoxifylline (PTX or Trental®). We completed a Phase 2A trial for PCS499 in patients with ulcerative and non-ulcerative necrobiosis lipoidica (NL) in late 2020, and in May 2021 we enrolled the first patient in our Phase 2B trial for the treatment of ulcerative NL. We expect to complete our interim analysis and complete enrollment of the Phase 2B trial during the first half of 2023; and, depending on the results, begin a pivotal Phase 3 trial in 2023. We have experienced delays in the enrollment of patients for this trial due in part to COVID-19 and the rare nature of this disease. We have initiated a number of recruitment programs to increase the enrollment of patients in this study and continue to evaluate additional options to meet our enrollment goals. ● PCS12852 is a highly specific and potent 5HT4 agonist which has already been evaluated in clinical studies in South Korea for gastric emptying and gastrointestinal motility. In October 2021, the FDA cleared our IND application to proceed with a Phase 2A trial for the treatment of gastroparesis. We enrolled our first patient on April 5, 2022, anticipate completing enrollment in the second half of 2022 with top-line results by the end of 2022, and should complete our final analysis in the first half of 2023. ● PCS6422 is an orally administered irreversible enzyme inhibitor administered in combination with capecitabine. When combining capecitabine with PCS6422 (the “Next Generation Capecitabine”), capecitabine becomes a more potent cancer chemotherapy agent than current FDA approved capecitabine. On August 2, 2021, we enrolled the first patient in our Phase 1B dose-escalation maximum tolerated dose trial in patients with advanced refractory gastrointestinal (GI) tract tumors. Our interim analysis of Cohorts 1 and 2 found no dose-limiting toxicities (DLTs), no drug related adverse events greater than Grade 1, and no hand-foot syndrome. In addition, the interim analysis revealed when PCS6422 inhibits the DPD enzyme, 5-FU metabolism can be significantly decreased (<10% metabolized to F-Bal compared to typically 80%) and the potency of capecitabine significantly increased compared to the present regimens of capecitabine (at least 50 times greater 5-FU potency based on systemic exposure per mg of capecitabine administered). The single dose of PCS6422, however, did not sustain the DPD inhibition throughout 7 days of capecitabine dosing which was needed to maintain the improved potency of capecitabine. Therefore, in an effort to define 6422 regimens that will maintain DPD inhibition throughout capecitabine dosing, we modified the protocol for the Phase 1B trial to not only determine the MTD of capecitabine, but to also further evaluate the timeline of DPD inhibition and de novo formation. We began enrolling patients in the amended Phase 1B trial in April 2022 and expect to complete enrollment while defining the Next Generation Capecitabine regimen (i.e., the PCS6422 regimens and the corresponding capecitabine regimens) by the end of 2022. We expect that our overall timeline has not changed with a Phase 2B or 3 trial starting in 2023-2024 and NDA submission in 2027-2028. ● PCS3117 is a cytosine analog that is similar to gemcitabine (Gemzar®), but different enough in chemical structure that some patients are more likely to respond to PCS3117 than gemcitabine. We continue to evaluate the potential use of PCS3117 in patients with pancreatic cancer and to evaluate ways to identify patients who are more likely to respond to PCS3117 than gemcitabine. We anticipate initiating a Phase 2B trial or adaptive designed Phase 3 trial in 2023 subject to meeting with FDA and obtaining additional funding. ● Our only nonclinical drug candidate is PCS11T, an analog of SN38 (SN38 being the active metabolite of irinotecan) and a next generation irinotecan drug for multiple types of cancers. The manufacturing process and sites for drug substance and drug product are presently being evaluated. In addition, we are defining the potential paths to approval, which include defining the targeted patient population and the type of cancer. We hope to submit an IND in the first half of 2024, followed by a Phase 1B maximum tolerated dose trial. Impact of COVID-19 The COVID-19 pandemic continues to create uncertainties in expected timelines by causing delays in clinical trials and disruptions in the supply chain for raw materials used in clinical trial work. We have experienced delays in the enrollment of patients in our PCS499 Phase 2B trial due to COVID-19. Some potential patients have died from COVID-19 prior to screening and others continue to be reluctant to travel to our testing sites for fear of contracting COVID-19. Delays in enrollment lengthen the time of studies and increase their costs, which could materially impact our business in future periods. Furthermore, the spread of COVID-19, which has caused a broad impact globally, may materially affect us economically. For more information on the risks associated with COVID-19, refer to Part I, Item 1A, “Risk Factors” included in our Annual Report on Form 10-K for the year ended December 31, 2021. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions of the Securities and Exchange Commission (“SEC”) on Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and disclosures required by U.S. GAAP for complete financial statements. All material intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments necessary, which are of a normal and recurring nature, for the fair presentation of our financial position and of the results of operations and cash flows for the periods presented. These condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC. The results of operations for the interim periods shown in this report are not necessarily indicative of the results that may be expected for any other interim period or for the full year. Liquidity We have incurred losses since inception, devoting substantially all of our efforts toward moving the drugs in our pipeline through the regulatory process and other research and development activities, and have an accumulated deficit of approximately $ 45.2 8.4 3.5 4.1 We had no On August 20, 2021, we entered into an equity distribution agreement (the “Sales Agreement”) with Oppenheimer & Co. Inc. under which we may issue and sell in a registered “at-the-market” offering shares of our common stock having an aggregate offering price of up to $ 30.0 On March 23, 2022, we entered into a Purchase Agreement (the “Purchase Agreement”) with Lincoln Park Capital Fund, LLC (“Lincoln Park”) under which we have the right, but not the obligation, to sell to Lincoln Park, and Lincoln Park is obligated to purchase up to $ 15,000,000 0.0001 Use of Estimates In preparing our condensed consolidated financial statements and related disclosures in conformity with GAAP and pursuant to the rules and regulations of the SEC, we make estimates and judgments that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Estimates are used for, but not limited to preclinical and clinical trial expenses, stock-based compensation, intangible assets, future milestone payments and income taxes. These estimates and assumptions are continuously evaluated and are based on management’s experience and knowledge of the relevant facts and circumstances. While we believe the estimates to be reasonable, actual results could differ materially from those estimates and could impact future results of operations and cash flows. Income Taxes We account for income taxes in accordance with ASC Topic 740, Income Taxes. Under ACS 740-270 Income Taxes – Interim Reporting Concentration of Credit Risk Financial instruments that potentially subject us to significant concentration of credit risk consist primarily of our cash and cash equivalents. We utilize only well-established banks and financial institutions with high credit ratings. Balances on deposit are insured by the Federal Deposit Insurance Corporation (FDIC) up to specified limits. Total cash held by our banks at June 30, 2022 exceeded FDIC limits. Recent Accounting Pronouncements From time to time, the Financial Accounting Standards Board (“FASB”) or other standard setting bodies issue new accounting pronouncements. Updates to the FASB Accounting Standards Codification are communicated through issuance of an Accounting Standards Update (“ASU”). We have implemented all new accounting pronouncements that are in effect and that may impact our condensed consolidated financial statements. We have evaluated recently issued accounting pronouncements and determined that there is no material impact on our condensed consolidated financial position or results of operations.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Note 2 – Intangible Assets Intangible assets at June 30, 2022 and December 31, 2021 consisted of the following: Summary of Intangible Assets June 30, 2022 December 31, 2021 Gross intangible assets $ 11,059,429 $ 11,059,429 Less: accumulated amortization (3,397,039 ) (3,002,791 ) Total intangible assets, net $ 7,662,390 $ 8,056,638 Gross intangible assets consist primarily of costs we capitalized when we acquired the license rights to PCS499 in 2018. Amortization expense was $ 394,248 397,664 788,000

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stockholders’ Equity	Note 3 – Stockholders’ Equity Preferred Stock There were no Common Stock Increase in Our Authorized Number of Shares On January 1, 2022, we amended our Certificate of Incorporation to increase the number of authorized shares of our common stock from 30,000,000 50,000,000 50,000,000 ATM Offering On August 20, 2021, we entered into the Sales Agreement with the Sales Agent under which we may issue and sell up to $ 30.0 Lincoln Park Capital Fund, LLC Purchase Agreement On March 23, 2022, we entered into the Purchase Agreement with Lincoln Park, pursuant to which Lincoln Park has committed to purchase up to $ 15.0 0.0001 123,609 450,000 25,000 Beginning on March 23, 2022, we have the right to present Lincoln Park with a purchase notice (a “Regular Purchase Notice”), directing Lincoln Park to purchase up to 25,000 75,000 1,250,000 The aggregate number of shares that we can issue to Lincoln Park under the Purchase Agreement may not exceed 3,142,430 19.99 9.99 We may terminate the Purchase Agreement at any time, at our sole discretion, without any cost or penalty, by giving one business day notice to Lincoln Park to terminate the Purchase Agreement. Lincoln Park has covenanted not to cause or engage in any manner whatsoever, any direct or indirect short selling or hedging of the common stock. There are no limitations on use of proceeds, financial or business covenants, restrictions on future financings (other than restrictions on our ability to enter into variable rate transactions described in the Purchase Agreement), rights of first refusal, participation rights, penalties or liquidated damages in the Purchase Agreement. We may deliver Purchase Notices under the Purchase Agreement, subject to market conditions, and in light of our capital needs from time to time and under the limitations contained in the Purchase Agreement. Any proceeds that we receive under the Purchase Agreement are expected to be used for working capital and general corporate purposes. Repurchase of Shares from Aposense, Ltd. On March 29, 2022, we purchased 100,000 300,000 and are holding these shares as treasury stock until they are reissued or retired at the discretion of our Board of Directors.

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	Note 4 - Stock-based Compensation On June 19, 2019, our stockholders approved, and we adopted the Processa Pharmaceuticals Inc. 2019 Omnibus Equity Incentive Plan (the “2019 Plan”). The 2019 Plan allows us, under the direction of our Board of Directors or a committee thereof, to make grants of stock options, restricted and unrestricted stock and other stock-based awards to employees, including our executive officers, consultants and directors. The 2019 Plan originally provided 3,000,000 627,086 shares available for future grants at June 30, 2022. On July 11, 2022, our shareholders approved an increase in the aggregate number of shares of our common stock available for issuance under our 2019 plan by 3,000,000 shares to 6,000,000 Stock Compensation Expense We recorded stock-based compensation expense for the three and six month periods ended June 30, 2022 and 2021 as follows: Schedule of Stock-based Compensation Expense Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Research and development $ 685,624 $ 191,594 $ 877,500 $ 245,385 General and administrative 1,323,745 673,729 1,960,766 928,237 Total $ 2,009,369 $ 865,323 $ 2,838,266 $ 1,173,622 No tax benefits were attributed to the stock-based compensation expense because a valuation allowance was maintained for all net deferred tax assets relating to this expense. Stock Options No 178,496 17.07 3.1 exercisable at June 30, 2022 for the purchase of 176,315 17.02 3.0 37,000 Restricted Stock Awards On January 4, 2022, we granted and issued Restricted Stock Awards (“RSAs”) for 9,766 50,000 72,832 252,000 17,572 120,000 On May 31, 2022, a director did not seek reelection and forfeited the 18,208 We did not cancel any RSAs during the six months ended June 30, 2022. At June 30, 2022, we had unvested RSAs for 145,733 shares with a weighted average grant date fair value of $ 6.13 . Unvested RSAs representing 120,733 shares are expected to vest at various dates in 2022, 12,500 shares are expected to vest in 2023, and the remainder are expected to vest in 2024. As of June 30, 2022, the total unrecognized stock-based compensation expense related to the outstanding RSAs was approximately $ 310,000 0.8 Restricted Stock Units Activity with respect to our Restricted Stock Units (“RSUs”) during the six months ended June 30, 2022 was as follows: Schedule of Information About RSU Outstanding Number of shares Weighted- average grant-date fair value per share Outstanding at January 1, 2022 439,593 Awarded 1,363,917 $ 3.01 Forfeited (22,088 ) 7.81 Issued (3,500 ) 6.65 Outstanding at June 30, 2022 1,777,922 4.12 Vested and unissued (440,374 ) 4.97 Unvested at June 30, 2022 1,337,548 $ 3.83 As of June 30, 2022, unrecognized stock-based compensation expense of approximately $ 4.0 0.8 349,000 During the six months ended June 30, 2022, we grant ed 243,131 shares of our common stock p . The value of an RSU award is based on the average share price of the month services were provided. 5.00 Included in RSUs awarded during the six months ended June 30, 2022 are RSUs awarded on April 1, 2022 for 1,979,818 879,819 d 3.3 2.9 The $ 3.3 2.9 beginning in the third quarter of 2022 . Holders of our vested RSUs will be d satisfaction Warrants No stock purchase warrants were granted, cancelled 303,725 shares with a weighted average exercise price of $ 10.66 1.3 Effective May 3, 2022, we extended the expiration date of a warrant held by a consultant by one year in connection with the extension of their service agreement. No other terms of the warrant, including the exercise price of $ 7.18 , were changed. We will recognize expense of approximately $ 33,000 related to this warrant modification over a one-year period beginning May 2022.

Net Loss per Share of Common St

Net Loss per Share of Common Stock	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Loss per Share of Common Stock	Note 5 – Net Loss per Share of Common Stock Net Loss Per Share Basic net loss per share is computed by dividing our net loss available to common shareholders by the weighted average number of shares of common stock outstanding (which excludes unvested RSAs and includes vested RSUs) during the period. Diluted loss per share is computed by dividing our net loss available to common shareholders by the diluted weighted average number of shares of common stock (which includes the potentially dilutive effect of stock options, unvested RSAs, unvested RSUs and warrants) during the period. Since we experienced a net loss for both periods presented, basic and diluted net loss per share are the same. As such, diluted loss per share for the three and six month periods ended June 30, 2022 and 2021 excludes the impact of potentially dilutive common shares since those shares would have an anti-dilutive effect on net loss per share. The computation of net loss per share for the three and six month periods ended June 30, 2022 and 2021 was as follows: Schedule of Net Loss Per Share Basic and Diluted 2022 2021 2022 2021 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Basic and diluted net loss per share: Net loss available to common stockholders $ (5,164,368 ) $ (3,157,043 ) $ (8,391,499 ) $ (5,256,523 ) Weighted average number of common shares-basic and diluted 15,940,510 15,406,363 15,886,116 14,997,303 Basic and diluted net loss per share $ (0.32 ) $ (0.20 ) $ (0.53 ) $ (0.35 ) Our diluted net loss per share for the three and six month periods ended June 30, 2022 and 2021 excluded 1,965,502 709,954

Operating Leases

Operating Leases	6 Months Ended
	Jun. 30, 2022
Operating Leases
Operating Leases	Note 6 – Operating Leases We lease our office space under an operating lease agreement. This lease does not have significant rent escalation, concessions, leasehold improvement incentives, or other build-out clauses. Further, the lease does not contain contingent rent provisions. Our office space lease includes both lease (e.g., fixed payments including rent, taxes, and insurance costs) and non-lease components (e.g., common-area or other maintenance costs), which are accounted for as a single lease component as we have elected the practical expedient to group lease and non-lease components for all leases. We also lease office equipment under an operating lease. Our leases do not provide an implicit rate and, as such, we have used our incremental borrowing rate of 8 Lease costs included in our condensed consolidated statements of operations totaled $ 24,137 21,801 48,528 45,831 Schedule of Weighted Average Remaining Lease Terms and Discount Rate for Operating Leases Remaining lease term (years) for our facility lease 0.3 Remaining lease term (years) for our equipment lease 1.8 Weighted average remaining lease term (years) for our facility and equipment leases 0.7 Weighted average discount rate for our facility and equipment leases 8.0 % Annual lease liabilities for all operating leases were as follows as of June 30, 2022: Schedule of Maturities of Lease Liabilities for all Operating Leases 2022 $ 26,457 2023 6,420 2024 1,605 Total lease payments 34,482 Less: Interest (3,275 ) Present value of lease liabilities 31,207 Less: current maturities (26,552 ) Non-current lease liability $ 4,655

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Note 7 – Related Party Transactions CorLyst, LLC (“CorLyst”) reimburses us for shared costs related to payroll, health insurance and rent based on actual costs incurred, which are recognized as a reduction of our general and administrative operating expenses being reimbursed in our condensed consolidated statement of operations. We recorded $ 63,689 61,549 No

Elion License Agreement

Elion License Agreement	6 Months Ended
	Jun. 30, 2022
Elion License Agreement
Elion License Agreement	Note 8 – Elion License Agreement On May 17, 2022, we amended the third Milestone Event of Section 6.4 of our License Agreement with Elion Oncology, Inc. changing the third Milestone Event from “1 st 189,000

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 9 – Commitments and Contingencies Purchase Obligations We enter into contracts in the normal course of business with contract research organizations and subcontractors to further develop our products. The contracts are cancellable, with varying provisions regarding termination. If we terminated a cancellable contract with a specific vendor, we would only be obligated for products or services that we received as of the effective date of the termination and any applicable cancellation fees. As of June 30, we are contractually obligated to pay up to approximately $ 5.5

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Business Activities and Organization	Business Activities and Organization We are a clinical-stage biopharmaceutical company focused on the development of drug products that are intended to provide treatment for patients who have a high unmet medical need condition that affects survival or the patient’s quality of life and for which few or no treatment options currently exist. We currently have five drugs: four in various stages of clinical development (PCS499, PCS12852, PCS6422 and PCS3117) and one in nonclinical development (PCS11T). We group our drugs into non-oncology (PCS499 and PCS12852) and oncology (PCS3117, PCS6422 and PCS11T). A summary of each drug is provided below: ● Our most advanced product candidate, PCS499, is an oral tablet that is a deuterated analog of one of the major metabolites of pentoxifylline (PTX or Trental®). We completed a Phase 2A trial for PCS499 in patients with ulcerative and non-ulcerative necrobiosis lipoidica (NL) in late 2020, and in May 2021 we enrolled the first patient in our Phase 2B trial for the treatment of ulcerative NL. We expect to complete our interim analysis and complete enrollment of the Phase 2B trial during the first half of 2023; and, depending on the results, begin a pivotal Phase 3 trial in 2023. We have experienced delays in the enrollment of patients for this trial due in part to COVID-19 and the rare nature of this disease. We have initiated a number of recruitment programs to increase the enrollment of patients in this study and continue to evaluate additional options to meet our enrollment goals. ● PCS12852 is a highly specific and potent 5HT4 agonist which has already been evaluated in clinical studies in South Korea for gastric emptying and gastrointestinal motility. In October 2021, the FDA cleared our IND application to proceed with a Phase 2A trial for the treatment of gastroparesis. We enrolled our first patient on April 5, 2022, anticipate completing enrollment in the second half of 2022 with top-line results by the end of 2022, and should complete our final analysis in the first half of 2023. ● PCS6422 is an orally administered irreversible enzyme inhibitor administered in combination with capecitabine. When combining capecitabine with PCS6422 (the “Next Generation Capecitabine”), capecitabine becomes a more potent cancer chemotherapy agent than current FDA approved capecitabine. On August 2, 2021, we enrolled the first patient in our Phase 1B dose-escalation maximum tolerated dose trial in patients with advanced refractory gastrointestinal (GI) tract tumors. Our interim analysis of Cohorts 1 and 2 found no dose-limiting toxicities (DLTs), no drug related adverse events greater than Grade 1, and no hand-foot syndrome. In addition, the interim analysis revealed when PCS6422 inhibits the DPD enzyme, 5-FU metabolism can be significantly decreased (<10% metabolized to F-Bal compared to typically 80%) and the potency of capecitabine significantly increased compared to the present regimens of capecitabine (at least 50 times greater 5-FU potency based on systemic exposure per mg of capecitabine administered). The single dose of PCS6422, however, did not sustain the DPD inhibition throughout 7 days of capecitabine dosing which was needed to maintain the improved potency of capecitabine. Therefore, in an effort to define 6422 regimens that will maintain DPD inhibition throughout capecitabine dosing, we modified the protocol for the Phase 1B trial to not only determine the MTD of capecitabine, but to also further evaluate the timeline of DPD inhibition and de novo formation. We began enrolling patients in the amended Phase 1B trial in April 2022 and expect to complete enrollment while defining the Next Generation Capecitabine regimen (i.e., the PCS6422 regimens and the corresponding capecitabine regimens) by the end of 2022. We expect that our overall timeline has not changed with a Phase 2B or 3 trial starting in 2023-2024 and NDA submission in 2027-2028. ● PCS3117 is a cytosine analog that is similar to gemcitabine (Gemzar®), but different enough in chemical structure that some patients are more likely to respond to PCS3117 than gemcitabine. We continue to evaluate the potential use of PCS3117 in patients with pancreatic cancer and to evaluate ways to identify patients who are more likely to respond to PCS3117 than gemcitabine. We anticipate initiating a Phase 2B trial or adaptive designed Phase 3 trial in 2023 subject to meeting with FDA and obtaining additional funding. ● Our only nonclinical drug candidate is PCS11T, an analog of SN38 (SN38 being the active metabolite of irinotecan) and a next generation irinotecan drug for multiple types of cancers. The manufacturing process and sites for drug substance and drug product are presently being evaluated. In addition, we are defining the potential paths to approval, which include defining the targeted patient population and the type of cancer. We hope to submit an IND in the first half of 2024, followed by a Phase 1B maximum tolerated dose trial.
Impact of COVID-19	Impact of COVID-19 The COVID-19 pandemic continues to create uncertainties in expected timelines by causing delays in clinical trials and disruptions in the supply chain for raw materials used in clinical trial work. We have experienced delays in the enrollment of patients in our PCS499 Phase 2B trial due to COVID-19. Some potential patients have died from COVID-19 prior to screening and others continue to be reluctant to travel to our testing sites for fear of contracting COVID-19. Delays in enrollment lengthen the time of studies and increase their costs, which could materially impact our business in future periods. Furthermore, the spread of COVID-19, which has caused a broad impact globally, may materially affect us economically. For more information on the risks associated with COVID-19, refer to Part I, Item 1A, “Risk Factors” included in our Annual Report on Form 10-K for the year ended December 31, 2021.
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions of the Securities and Exchange Commission (“SEC”) on Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and disclosures required by U.S. GAAP for complete financial statements. All material intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments necessary, which are of a normal and recurring nature, for the fair presentation of our financial position and of the results of operations and cash flows for the periods presented. These condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC. The results of operations for the interim periods shown in this report are not necessarily indicative of the results that may be expected for any other interim period or for the full year.
Liquidity	Liquidity We have incurred losses since inception, devoting substantially all of our efforts toward moving the drugs in our pipeline through the regulatory process and other research and development activities, and have an accumulated deficit of approximately $ 45.2 8.4 3.5 4.1 We had no On August 20, 2021, we entered into an equity distribution agreement (the “Sales Agreement”) with Oppenheimer & Co. Inc. under which we may issue and sell in a registered “at-the-market” offering shares of our common stock having an aggregate offering price of up to $ 30.0 On March 23, 2022, we entered into a Purchase Agreement (the “Purchase Agreement”) with Lincoln Park Capital Fund, LLC (“Lincoln Park”) under which we have the right, but not the obligation, to sell to Lincoln Park, and Lincoln Park is obligated to purchase up to $ 15,000,000 0.0001
Use of Estimates	Use of Estimates In preparing our condensed consolidated financial statements and related disclosures in conformity with GAAP and pursuant to the rules and regulations of the SEC, we make estimates and judgments that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Estimates are used for, but not limited to preclinical and clinical trial expenses, stock-based compensation, intangible assets, future milestone payments and income taxes. These estimates and assumptions are continuously evaluated and are based on management’s experience and knowledge of the relevant facts and circumstances. While we believe the estimates to be reasonable, actual results could differ materially from those estimates and could impact future results of operations and cash flows.
Income Taxes	Income Taxes We account for income taxes in accordance with ASC Topic 740, Income Taxes. Under ACS 740-270 Income Taxes – Interim Reporting
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject us to significant concentration of credit risk consist primarily of our cash and cash equivalents. We utilize only well-established banks and financial institutions with high credit ratings. Balances on deposit are insured by the Federal Deposit Insurance Corporation (FDIC) up to specified limits. Total cash held by our banks at June 30, 2022 exceeded FDIC limits.
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, the Financial Accounting Standards Board (“FASB”) or other standard setting bodies issue new accounting pronouncements. Updates to the FASB Accounting Standards Codification are communicated through issuance of an Accounting Standards Update (“ASU”). We have implemented all new accounting pronouncements that are in effect and that may impact our condensed consolidated financial statements. We have evaluated recently issued accounting pronouncements and determined that there is no material impact on our condensed consolidated financial position or results of operations.

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	Intangible assets at June 30, 2022 and December 31, 2021 consisted of the following: Summary of Intangible Assets June 30, 2022 December 31, 2021 Gross intangible assets $ 11,059,429 $ 11,059,429 Less: accumulated amortization (3,397,039 ) (3,002,791 ) Total intangible assets, net $ 7,662,390 $ 8,056,638

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Expense	We recorded stock-based compensation expense for the three and six month periods ended June 30, 2022 and 2021 as follows: Schedule of Stock-based Compensation Expense Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Research and development $ 685,624 $ 191,594 $ 877,500 $ 245,385 General and administrative 1,323,745 673,729 1,960,766 928,237 Total $ 2,009,369 $ 865,323 $ 2,838,266 $ 1,173,622
Schedule of Information About RSU Outstanding	Activity with respect to our Restricted Stock Units (“RSUs”) during the six months ended June 30, 2022 was as follows: Schedule of Information About RSU Outstanding Number of shares Weighted- average grant-date fair value per share Outstanding at January 1, 2022 439,593 Awarded 1,363,917 $ 3.01 Forfeited (22,088 ) 7.81 Issued (3,500 ) 6.65 Outstanding at June 30, 2022 1,777,922 4.12 Vested and unissued (440,374 ) 4.97 Unvested at June 30, 2022 1,337,548 $ 3.83

Net Loss per Share of Common _2

Net Loss per Share of Common Stock (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Net Loss Per Share Basic and Diluted	The computation of net loss per share for the three and six month periods ended June 30, 2022 and 2021 was as follows: Schedule of Net Loss Per Share Basic and Diluted 2022 2021 2022 2021 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Basic and diluted net loss per share: Net loss available to common stockholders $ (5,164,368 ) $ (3,157,043 ) $ (8,391,499 ) $ (5,256,523 ) Weighted average number of common shares-basic and diluted 15,940,510 15,406,363 15,886,116 14,997,303 Basic and diluted net loss per share $ (0.32 ) $ (0.20 ) $ (0.53 ) $ (0.35 )

Operating Leases (Tables)

Operating Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Operating Leases
Schedule of Weighted Average Remaining Lease Terms and Discount Rate for Operating Leases	Schedule of Weighted Average Remaining Lease Terms and Discount Rate for Operating Leases Remaining lease term (years) for our facility lease 0.3 Remaining lease term (years) for our equipment lease 1.8 Weighted average remaining lease term (years) for our facility and equipment leases 0.7 Weighted average discount rate for our facility and equipment leases 8.0 %
Schedule of Maturities of Lease Liabilities for all Operating Leases	Annual lease liabilities for all operating leases were as follows as of June 30, 2022: Schedule of Maturities of Lease Liabilities for all Operating Leases 2022 $ 26,457 2023 6,420 2024 1,605 Total lease payments 34,482 Less: Interest (3,275 ) Present value of lease liabilities 31,207 Less: current maturities (26,552 ) Non-current lease liability $ 4,655

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies (Details Narrative) - USD ($)			3 Months Ended				6 Months Ended
	Mar. 23, 2022	Aug. 20, 2021	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Accumulated deficit			$ 45,214,831				$ 45,214,831		$ 36,823,332
Net loss			$ 5,164,368	$ 3,227,131	$ 3,157,043	$ 2,099,480	8,391,499	$ 5,256,523
Non cash expenditures							3,500,000
Net cash used in operating activities							4,133,439	$ 4,437,494
Revenue							$ 0
Common stock, par value			$ 0.0001				$ 0.0001		$ 0.0001
Equity Distribution Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Maximum number of shares to be sold at the market offering		$ 30,000,000
Purchase Agreement [Member] | Lincoln Park Capital Fund LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock, par value	$ 0.0001
Purchase Agreement [Member] | Lincoln Park Capital Fund LLC [Member] | Maximum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Commitment to purchase common stock	$ 15,000,000

Summary of Intangible Assets (D

Summary of Intangible Assets (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Gross intangible assets	$ 11,059,429	$ 11,059,429
Less: accumulated amortization	(3,397,039)	(3,002,791)
Total intangible assets, net	$ 7,662,390	$ 8,056,638

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 394,248	$ 397,664
Future amortization expenses, annual periods thereafter	$ 788,000

Stockholders_ Equity (Details N

Stockholders’ Equity (Details Narrative) - USD ($)				3 Months Ended
	Mar. 29, 2022	Mar. 23, 2022	Aug. 20, 2021	Mar. 31, 2022	Jun. 30, 2022	Jan. 01, 2022	Dec. 31, 2021
Preferred stock, shares issued					0		0
Preferred stock, shares outstanding					0		0
Common stock, shares authorized					50,000,000	50,000,000	30,000,000
Common stock par value					$ 0.0001		$ 0.0001
Repurchase of common stock value				$ 300,000
Aposense, Ltd. [Member]
Number of repurchase of common stock, shares	100,000
Repurchase of common stock value	$ 300,000
Equity Distribution Agreement [Member]
Maximum number of shares to be sold at the market offering			$ 30,000,000
Purchase Agreement [Member] | Lincoln Park Capital Fund LLC [Member]
Common stock par value		$ 0.0001
Number of common stock issued on commitment fees, shares		123,609
Number of common stock issued on commitment fees, value		$ 450,000
Reimbursement fee		$ 25,000
Nasdaq's exchange cap percent		19.99%
Purchase Agreement [Member] | Lincoln Park Capital Fund LLC [Member] | Maximum [Member]
Commitment to purchase common stock		$ 15,000,000
Number of common stock shares in regular purchase		25,000
Number of common stock shares exceeding regular purchase		75,000
Daily maximum committed purchase obligations, value		$ 1,250,000
Maximum number of shares issued sold		3,142,430
Beneficial ownership limitation percentage		9.99%

Schedule of Stock-based Compens

Schedule of Stock-based Compensation Expense (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total	$ 2,009,369	$ 865,323	$ 2,838,266	$ 1,173,622
Research and Development Expense [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total	685,624	191,594	877,500	245,385
General and Administrative Expense [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total	$ 1,323,745	$ 673,729	$ 1,960,766	$ 928,237

Schedule of Information About R

Schedule of Information About RSU Outstanding (Details) - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares, Beginning balance	439,593
Number of shares, awarded	1,363,917
Weighted-average grant-date fair value per share, awarded | $ / shares	$ 3.01
Number of shares, forfeited	(22,088)
Weighted-average grant-date fair value per share, forfeited | $ / shares	$ 7.81
Number of shares, shares issued	(3,500)
Weighted-average grant-date fair value per share, shares issued | $ / shares	$ 6.65
Number of shares, ending balance	1,777,922
Weighted-average grant-date fair value per share, ending balance | $ / shares	$ 4.12
Number of shares, vested and unissued	(440,374)
Weighted-average grant-date fair value per share, vested and unissued | $ / shares	$ 4.97
Number of shares, unvested	1,337,548
Weighted-average grant-date fair value per share, unvested | $ / shares	$ 3.83

Stock-based Compensation (Detai

Stock-based Compensation (Details Narrative) - USD ($)					3 Months Ended		6 Months Ended
	Jul. 11, 2022	May 31, 2022	Mar. 31, 2022	Jan. 04, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	May 03, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock based compensation					$ 2,009,369	$ 865,323	$ 2,838,266	$ 1,173,622
2022 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of restricted stock expected to vest, shares							120,733
2023 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of restricted stock expected to vest, shares							12,500
Equity Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock option granted							0
Stock option cancelled or forfeited							0
Outstanding options for the purchase shares					178,496		178,496
Weighted average exercise price of stock option outstanding					$ 17.07		$ 17.07
Stock options outstanding, weighted average remaining contractual term							3 years 1 month 6 days
Number of option exercisable during period					176,315		176,315
Number of options exercisable, weighted average exercise price					$ 17.02		$ 17.02
Stock options exercisable, weighted average remaining contractual term							3 years
Unrecognized stock option expense					$ 37,000		$ 37,000
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock available for future issuance				9,766
Stock based compensation							$ 50,000
Number of unvested restricted stock award					145,733		145,733
Weighted average grant date fair value					$ 6.13		$ 6.13
Unrecognized share based compensation expense					$ 310,000		$ 310,000
Weighted average period							9 months 18 days
Restricted Stock [Member] | Directors [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock available for future issuance				72,832
Number of unvested restricted stock award				252,000
Number of restricted shares issued			17,572
Directors' fees										$ 120,000
Restricted stock units forfeited		18,208
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock available for future issuance							1,363,917
Restricted stock units forfeited							22,088
Unrecognized share based compensation expense					$ 4,000,000		$ 4,000,000
Weighted average period, restricted stock units							9 months 18 days
Unrecognized restricted stock expense							$ 349,000
Minimum price per share of equity compensation					$ 5		$ 5
Fair value amount							$ 3.01
Restricted Stock Units (RSUs) [Member] | April 1, 2022 Grant [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock available for future issuance							1,979,818
Restricted stock fair value							$ 3,300,000
Restricted Stock Units (RSUs) [Member] | Base Compensation [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock available for future issuance							243,131
Restricted Stock Units (RSUs) [Member] | Subsequent Event [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock available for future issuance	879,819
Fair value amount	$ 2,900,000
Warrant [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrant cancelled or forfeited							0
Warrants to purchase shares					303,725		303,725
Warrants, weighted average exercise price					$ 10.66		$ 10.66
Weighted average remaining contractual life							1 year 3 months 18 days
Warrant [Member] | Consultant [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Warrants, weighted average exercise price									$ 7.18
Warrants and Rights Outstanding									$ 33,000
2019 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares available for future grants					627,086		627,086
2019 Plan [Member] | Subsequent Event [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Maximum equity available for issuance under the plan	6,000,000
2019 Plan [Member] | Original [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Maximum equity available for issuance under the plan					3,000,000		3,000,000

Schedule of Net Loss Per Share

Schedule of Net Loss Per Share Basic and Diluted (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net loss available to common stockholders	$ (5,164,368)	$ (3,227,131)	$ (3,157,043)	$ (2,099,480)	$ (8,391,499)	$ (5,256,523)
Weighted average number of common shares-basic and diluted	15,940,510		15,406,363		15,886,116	14,997,303
Basic and diluted net loss per share	$ (0.32)		$ (0.20)		$ (0.53)	$ (0.35)

Net Loss per Share of Common _3

Net Loss per Share of Common Stock (Details Narrative) - shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share, amount	1,965,502	709,954

Schedule of Weighted Average Re

Schedule of Weighted Average Remaining Lease Terms and Discount Rate for Operating Leases (Details)	Jun. 30, 2022
Lessee, Lease, Description [Line Items]
Operating lease, weighted average remaining lease term	8 months 12 days
Weighted average discount rate for our facility and equipment leases	8%
Facility Lease [Member]
Lessee, Lease, Description [Line Items]
Operating lease, weighted average remaining lease term	3 months 18 days
Equipment Lease [Member]
Lessee, Lease, Description [Line Items]
Operating lease, weighted average remaining lease term	1 year 9 months 18 days

Schedule of Maturities of Lease

Schedule of Maturities of Lease Liabilities for all Operating Leases (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Operating Leases
2022	$ 26,457
2023	6,420
2024	1,605
Total lease payments	34,482
Less: Interest	(3,275)
Present value of lease liabilities	31,207
Less: current maturities	(26,552)	$ (71,078)
Non-current lease liability	$ 4,655	$ 7,385

Operating Leases (Details Narra

Operating Leases (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating Leases
Operating lease borrowing rate	8%		8%
Lease cost	$ 24,137	$ 21,801	$ 48,528	$ 45,831

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - CorLyst, LLC [Member] - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Rent and other costs reimbursements received	$ 63,689	$ 61,549
Due from related parties	$ 0	$ 0

Elion License Agreement (Detail

Elion License Agreement (Details Narrative)	May 17, 2022 USD ($)
License Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Expense and related liability	$ 189,000

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) $ in Millions	Jun. 30, 2022 USD ($)
Agreements [Member] | Contract Research Organizations [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Purchase obligation	$ 5.5